India’s direct tax collection surges 15.88% to ₹16.90 lakh crore so far in FY25

India’s direct tax collection has surged by nearly 16% to reach approximately ₹16.90 lakh crore so far in the current fiscal year (FY25), according to the latest data from the Central Board of Direct Taxes (CBDT).

The collection from net non-corporate taxes, primarily driven by personal income tax, has amounted to over ₹8.74 lakh crore. Meanwhile, corporate tax receipts stand at about ₹7.68 lakh crore between April 1, 2024, and January 12, 2025.

The government has also seen robust growth in collections from the securities transaction tax (STT), which totalled ₹44,538 crore for the period. In contrast, refunds issued during the same period have risen by 42.49%, reaching over ₹

3.74 lakh crore.

Gross direct tax collections have grown by 20%, crossing the ₹20.64 lakh crore mark between April 1 and January 12.

For the entire fiscal year, the government has set a target of collecting ₹22.07 lakh crore in direct taxes, with ₹10.20 lakh crore expected from corporate taxes and ₹11.87 lakh crore from personal income tax and other taxes.

#NewsFlash | #FY25 Direct Tax Collections ????

????Apr 1-Jan 12 gross direct tax collection up 19.9% at ₹20.64 lk cr

????Apr 1-Jan 12 net direct tax collection up 15.9% at ₹16.90 lk cr

????Apr 1-Jan 12 net direct refunds up 42.49% at ₹3.74 lk cr

Here’s more???? pic.twitter.com/eN0arLhwLa

— CNBC-TV18 (@CNBCTV18Live) January 13, 2025